Triple DSEMA - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
Changes in the "triple" series of indicators.
The basic version of the "Triple" indicator uses the Hull Moving Average. One possible disadvantage of using the Hull Moving Average is that the Hull Moving Average tends to overshoot in certain situations.
This version uses a double-smoothed EMA instead of using the Hull average, and since the double-smoothed EMA never overshoots, the problem is solved. Being a very smooth average, the Double Smoothed EMA is indeed a good filter/average to use in the "Triple" series.
As a reminder: the triple indicator uses 3 values - the average of the high, low and closing prices to determine the overall trend direction and the range area (when the price is between the high and low averages).
Attachment download
📎 triple_dsema.mq5 (8.72 KB)
Source: MQL5 #20442
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